The gross domestic product (GDP) of Russia reached nearly 2.2 trillion U.S. dollars in 2024, having increased from the previous year. In the period between 2025 and 2030, the country's economy was expected to continue growing. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Russian economy The Russian economy is primarily directed by both the private sector and the state. As a member of the BRIC, Russia is currently experiencing an accelerated growth within the economy with a chance of earning a place in the G7 economies. As of the 1990s, a large amount of the country’s industrial and agricultural sectors were privatized, however energy and military production remained with the state for the most part. Thus, the majority of Russian exports consisted of energy products as well as high-tech military equipment. The effects of the global financial crisis of 2008 took a similar toll on the Russian economy, however only had short-term effects. Russia recovered after two years and has since experienced exponential economic growth and productivity due to aggressive and prompt actions from the government, providing Russia with one of the most profitable economies in the world. Additionally, unemployment reached an all-decade low from the recent Russian economic boom, which furthermore implies that there is a slight growth in wages, however is also accompanied by a large worker shortage.

Russia's gross domestic product (GDP) was estimated to have increased by 1.2 percent in May 2025 compared to the same month of the previous year. In April 2023, the monthly GDP growth was positive for the first time since March 2022. In April 2020, the country’s GDP fell by nearly 10 percent as a result of the crisis caused by the coronavirus (COVID-19) pandemic as well as the oil price crash. Russian economy outlook for 2025 Russia’s annual GDP was projected to increase by 1.35 percent in 2025. The level of prices in the country was expected to continue growing, with the inflation rate forecast at 4.7 percent in that year. Post-pandemic economic recovery in selected countries Countries across the world saw a sharp decrease in GDP in 2020 due to the COVID-19 pandemic. In 2023, the European Commission foresaw an increase in all European Union (EU) members' GDP, ranging from the lowest of 1.1 percent in Sweden and Italy to the highest of five percent in Ireland. In Latin America, the most significant increase in GDP was recorded in Peru, at 5.2 percent in 2022.

Key information about Russia Real GDP Growth

• The Gross Domestic Product (GDP) in Russia contracted 2.6 % YoY in Mar 2023, following a negative growth of 3.2 % in the previous quarter.
• Real GDP Growth YoY data in Russia is updated quarterly, available from Mar 1996 to Mar 2023, with an average rate of 2.7 %.
• The data reached an all-time high of 12.3 % in Dec 1999 and a record low of -9.4 % in Jun 2009.

CEIC calculates quarterly Real GDP Growth from quarterly Real GDP. The Federal State Statistics Service provides Real GDP in local currency at 2021 prices, based on SNA 2008. Real GDP Growth prior to Q1 2012 is calculated from Real GDP at 2008 prices and prior to Q1 2004 from Real GDP at 2003 prices, both based on SNA 1993.


Related information about Russia Real GDP Growth

• In the latest reports, Nominal GDP of Russia reached 494.7 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.7 % in Mar 2023.
• GDP Per Capita in Russia reached 15,074.8 USD in Dec 2022.
• Its Gross Savings Rate was measured at 35.2 % in Dec 2022.
• For Nominal GDP contributions, Investment accounted for 28.9 % in Dec 2022.
• Public Consumption accounted for 17.5 % in Dec 2022.
• Private Consumption accounted for 47.3 % in Dec 2022.

The Gross Domestic Product (GDP) in Russia was worth 2173.84 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Russia represents 2.05 percent of the world economy. This dataset provides the latest reported value for - Russia GDP - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Gross Domestic Product (GDP) in Russia expanded 1.40 percent in the first quarter of 2025 over the same quarter of the previous year. This dataset provides the latest reported value for - Russia GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In the first quarter of 2024, the real gross domestic product (GDP) of Russia grew by 5.4 percent compared to the same quarter of the previous year. The decline in GDP recorded between the second quarter of 2022 and the first quarter of 2023 was related to the economic impact of the war in Ukraine, in response to which Western countries imposed sanctions on Russia. However, the recent monthly GDP growth data reflects the resilience of the economy in the face of external pressure in the short term. GDP refers to the total market value of all goods and services produced within a country. It is an important indicator of economic strength. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. Trade with China has eased the sanctions’ pressure The dynamic trade relationship with China has likely played a key role in bolstering Russia's economic recovery, contributing to an over-three-percent GDP growth estimated for 2024. The importance of trade partnerships and their impact on GDP growth is underscored by the example of China's influence on both Russia's imports, especially of technology and equipment, and exports, particularly of fossil fuels. Russian economic growth in the global context Amid the global economic challenges posed by the COVID-19 pandemic and geopolitical disruptions such as the war in Ukraine, Russia's annual GDP growth was close to the global one, which was forecast to reach approximately 3.2 percent in 2024. Moreover, Russia was expected to become the fourth-fastest-growing economy in the G20 in that year, following India, Indonesia, and China.

Full Year GDP Growth in Russia increased to 4.10 percent in 2024 from 3.60 percent in 2023. This dataset includes a chart with historical data for Russia Full Year Gdp Growth.

Russia Federal Loan Bonds (OFZ): Market Size data was reported at 7,325.000 RUB bn in Dec 2018. This records an increase from the previous number of 7,287.000 RUB bn for Nov 2018. Russia Federal Loan Bonds (OFZ): Market Size data is updated monthly, averaging 4,812.000 RUB bn from Dec 2011 (Median) to Dec 2018, with 85 observations. The data reached an all-time high of 7,325.000 RUB bn in Dec 2018 and a record low of 2,897.000 RUB bn in Jan 2012. Russia Federal Loan Bonds (OFZ): Market Size data remains active status in CEIC and is reported by The Central Bank of the Russian Federation. The data is categorized under Russia Premium Database’s Financial Market – Table RU.ZD001: Federal Loan Bonds (OFZ) Market: Non-Residents Share.

Key information about Russia Market Capitalization: % of GDP

• Russia Market Capitalization accounted for 2.8 % of its Nominal GDP in Dec 2024, compared with a percentage of 2.9 % in the previous year
• Russia Market Capitalization: % Nominal GDP is updated yearly, available from Dec 1997 to Dec 2024
• The data reached an all-time high of 33.3 % in Dec 2003 and a record low of 2.8 % in Dec 2024

CEIC calculates annual Market Capitalization as % of Nominal GDP from monthly Market Capitalization and annual Nominal GDP. Moscow Exchange provides Market Capitalization in USD. Federal State Statistics Service provides Nominal GDP in local currency. The Bank of Russia average market exchange rate is used for currency conversions

The Russian satellite-based Earth observation market is experiencing robust growth, driven by increasing government investment in space technology, a focus on national security, and the expanding applications of Earth observation data across various sectors. The market's Compound Annual Growth Rate (CAGR) of 7.58% from 2019 to 2024 suggests a substantial market expansion. Considering this trajectory and the continued advancements in satellite technology, the market is projected to maintain a similar growth rate through 2033. Key drivers include the nation's strategic interests in monitoring its vast territory for resource management, infrastructure development, and environmental protection. The increasing adoption of Earth observation data for precision agriculture, urban planning, and climate change mitigation further fuels market expansion. While precise market sizing for 2025 is unavailable, estimating based on the provided CAGR and a plausible 2024 market size (let's assume $500 million for illustration), the 2025 market size could be around $537.9 million ($500 million * 1.0758). The market is segmented by data type (Earth observation data and value-added services), satellite orbit (Low Earth Orbit, Medium Earth Orbit, Geostationary Orbit), and end-use (urban development, agriculture, climate services, energy, infrastructure, and others). Competition is largely dominated by state-owned enterprises like Roscosmos and Gazprom Space Systems, alongside private players such as SCANEX Group and Dauria Aerospace. The future growth of the Russian satellite-based Earth observation market hinges on technological advancements, particularly in high-resolution imagery and data analytics. Government policies supporting the development and deployment of domestic satellite constellations will be critical. The increasing integration of AI and machine learning in data processing and interpretation will further enhance the value proposition of Earth observation services. However, potential restraints include economic sanctions affecting access to international technology and collaborations, as well as the need for skilled professionals to manage and interpret the vast amounts of generated data. Despite these challenges, the long-term outlook for the Russian satellite-based Earth observation market remains positive, driven by the strategic importance of this technology for national development and global competitiveness. Recent developments include: April 2023: The Russian government made a commitment to maintain its participation in the International Space Station (ISS) through at least 2028. NASA has reported that Russia has affirmed its dedication to supporting the station until 2028. The other partners, including NASA, the Canadian Space Agency, the European Space Agency, and the Japan Aerospace Exploration Agency, have agreed to extend the station's operations through 2030., August 2022: The satellite, named "Khayyam" after a Persian mathematician from the 12th century, is set to launch as part of an agreement between Russia's Roscosmos space agency and Iran, a collaboration that has been in the works for nearly four years. The Kanopus-V system, developed and launched by Russia, will feature a high-resolution camera providing Tehran with potential capabilities, including near-constant monitoring of sensitive facilities in Israel and the Persian Gulf region.. Key drivers for this market are: Government Initiatives and Support, Rising Need for Advanced Surveillance Capabilities. Potential restraints include: Government Initiatives and Support, Rising Need for Advanced Surveillance Capabilities. Notable trends are: Government Initiatives and Support to Drive the Market Growth.

Key information about Russia Domestic Credit Growth

• Russia Domestic Credit increased 19.1 % YoY in Jan 2025, compared with an increase of 19.7 % YoY in the previous month
• Russia Domestic Credit Growth YoY data is updated monthly
• It averaged 21.6 %, available from Dec 2001 to Jan 2025
• The data reached an all-time high of 49.7 % in May 2007 and a record low of -9.3 % in Apr 2005

CEIC calculates Domestic Credit Growth from monthly Domestic Credit. The Bank of Russia provides Domestic Credit in local currency based on MFSM 2016. Domestic Credit Growth prior to December 2015 is based on MFSM 2000.


Further information about Russia Domestic Credit Growth

• In the latest reports, Russia Domestic Credit reached 1,442.5 USD bn in Jan 2025
• Money Supply M2 in Russia increased to 1,189.6 USD bn YoY in Jan 2025
• Russia Foreign Exchange Reserves was measured at 386.4 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Oct 2024
• The country's Non Performing Loans Ratio stood at 16.8 % in Nov 2020, compared with the ratio of 17.0 % in the previous month
• Household Debt of Russia reached 20.4 % in Mar 2024, accounting for 20.4 % of the country's Nominal GDP

Russia's oil and gas industry accounted for over ** percent of the country's gross domestic product (GDP) in 2024. That constituted a slight decrease compared to the previous year.

Russia recorded a Government Budget deficit equal to 1.70 percent of the country's Gross Domestic Product in 2024. This dataset provides - Russia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Exports in Russia decreased to 33060 USD Million in April from 34559 USD Million in March of 2025. This dataset provides - Russia Exports - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Inflation Rate in Russia decreased to 9.40 percent in June from 9.90 percent in May of 2025. This dataset provides - Russia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The size of the Russian Home Textile Industry market was valued at USD 4.04 Million in 2023 and is projected to reach USD 4.56 Million by 2032, with an expected CAGR of 1.76% during the forecast period. This is a very large portion of the Russian economy, including domestic textile industries which produce and distribute large varieties of textile products used in homes. Domestic textiles, by way of broader speech, include articles such as bedding, curtains, towels, table runners, blankets, and whatever is used to adorn, decorate, and add comfort to the interior of a home. The products are useful and make different servings, such as heating and warm effects or decoration purposes. Bed sheets guarantee good sleep, whereas curtains protect one's eyes from gazing, sunshine, and rain and beautify the house. Towels are for hygiene as well as for body drying, and tablecloths serve beautification and table coverage purposes to avoid making the dining table dirty. Blankets and throws provide more warmth, especially during the cold weather. This market segment includes both local manufacturers and international brands. While some of the local manufacturers tend to focus more on more classic, more affordable items from the mass market, international brands might encompass more of luxury goods and even designer collections. The past few years have been challenging for this industry-there is increased import competition, the cost of production and variability in demand in the consumer markets. Conversely, opportunities for growth remain rampant with more people earning better disposable incomes and moving increasingly into the cities, thus seeking higher quality and branded products. Recent developments include: In 2022, One of Russia's leading producers of technical textiles and nonwovens, Balashov Textile Mill (Baltex), will invest USD 200 million for expansion of the production of polyamide fibres and fabrics over the next few years. The current market of technical textiles in Russia relies on imports. The contribution of domestic manufacturers is estimated to be merely 17 per cent of the total market. Nevertheless, with Russia's growing automotive sector, healthcare and construction industry, the internal demand for technical textile will rise. Other leading groups like Kuibyshevazot, Kurskhimvolokno and BTK Group have also declared expansion plans in Russia., From December 2021, the leading domestic textile manufacturers are making attempts to expand textile business, which means dabbling in technical and nonwoven textiles. The continuous rise in global cotton prices has resulted in a gradual increase of overall cost of final textile product for Russia, as the country imports cotton from its neighbouring nations like Uzbekistan. Russian government believe that the shift towards technical textile will augur well for the Russian domestic textile industry.. Key drivers for this market are: Rise in demand of cordless, light-weight and small-sized vacuum cleaner. Potential restraints include: Rise in price of electronic products post covid. Notable trends are: Increase in E-Commerce of Textile Market.

Russia recorded a Government Debt to GDP of 16.40 percent of the country's Gross Domestic Product in 2024. This dataset provides - Russia Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Russian food service industry, valued at $28.91 billion in 2025, is projected to experience robust growth, with a Compound Annual Growth Rate (CAGR) of 8.44% from 2025 to 2033. This expansion is driven by several key factors. Rising disposable incomes, particularly among the urban middle class, fuel increased spending on dining out. A young and increasingly Westernized population embraces diverse culinary experiences, boosting demand for both international chains and innovative local concepts. The burgeoning e-commerce sector and mobile payment penetration further propel growth, facilitating convenient online ordering and delivery services. While the market encompasses diverse segments, including full-service restaurants, quick-service restaurants (QSRs), cafes, bars, and home delivery options, the QSR segment is anticipated to lead the growth trajectory due to its affordability and convenience, catering to busy lifestyles and price-conscious consumers. The industry's competitive landscape is dynamic, featuring both established international players like McDonald's (now Vkusno & Tochka) and Yum! Brands, along with thriving domestic chains like Teremok. Competition is fierce, pushing companies to innovate with menu offerings, enhance customer experience, and optimize operational efficiencies. However, the industry faces challenges. Geopolitical instability and economic sanctions have created uncertainty, impacting ingredient sourcing and consumer spending. Inflationary pressures increase operational costs, necessitating price adjustments that might affect consumer demand. Furthermore, maintaining consistent food quality and safety standards across the diverse range of establishments is crucial to building and maintaining consumer trust. The successful players will be those who effectively manage these challenges while capitalizing on the underlying growth drivers through strategic menu development, efficient operations, and targeted marketing campaigns. The ongoing shift towards digitalization within the food service industry is an important aspect to consider for future market trends. Recent developments include: June 2022: Vkusno & Tochka (Tasty and that's it) launched its operations in Russia, post McDonald's exit in Russia. The firm rebranded the McDonald's stores nationwide and aimed to expand its presence nationwide., August 2022: Stars Coffee launched in Russia as a rebranded version of Starbucks Corporation. The chain aims to offer coffee and snacking products in the country in its operating stores., February 2022: Shell Cafe expanded its business by opening a new café in Moscow. According to the company, the café aims to offer a variety of coffees and snacks, including bakery products and meat products.. Notable trends are: Increasing Prevalence of Eating/Dining Out.

Key information about Russia Total Imports from China

• Russia Total Imports from China recorded 7.205 USD bn in Jan 2022, compared with 8.207 USD bn in the previous month
• Russia Total Imports from China data is updated monthly, available from Jan 1992 to Jan 2022, with an averaged value of 1.472 USD bn
• The data reached an all-time high of 8.207 USD bn in Dec 2021 and a record low of 42.790 USD mn in Jan 1999

CEIC de-accumulates monthly Total Exports to China. Federal Customs Service provides year-to-date Total Imports from China, CIF, in USD. Total Imports from China prior to March 2004 is sourced from the International Monetary Fund.

Abstract

The Russia Longitudinal Monitoring Survey (RLMS) is a household-based survey designed to measure the effects of Russian reforms on the economic well-being of households and individuals. In particular, determining the impact of reforms on household consumption and individual health is essential, as most of the subsidies provided to protect food production and health care have been or will be reduced, eliminated, or at least dramatically changed. These effects are measured by a variety of means: detailed monitoring of individuals' health status and dietary intake, precise measurement of household-level expenditures and service utilization, and collection of relevant community-level data, including region-specific prices and community infrastructure data. Data have been collected since 1992.

The repeated cross-section design is far and away the simplest alternative for the RLMS. The sampling is cost efficient, easy to maintain, and easy to update when needed. The design supports both efficient cross-sectional and aggregate longitudinal analyses of change in the Russian household population. Updates to the sample, including a full replenishment of the probability sample of dwelling units, will not seriously disrupt the longitudinal data series.

Geographic coverage

National

Analysis unit

Households and individuals.

Kind of data

Sample survey data [ssd]

Sampling procedure

In Phase II (Rounds V - XX) of the RLMS, a multi-stage probability sample was employed. Please refer to the March 1997 review of the Phase II sample. First, a list of 2,029 consolidated regions was created to serve as PSUs. These were allocated into 38 strata based largely on geographical factors and level of urbanization but also based on ethnicity where there was salient variability. As in many national surveys involving face-to-face interviews, some remote areas were eliminated to contain costs; also, Chechnya was eliminated because of armed conflict. From among the remaining 1,850 regions (containing 95.6 percent of the population), three very large population units were selected with certainty: Moscow city, Moscow Oblast, and St. Petersburg city constituted self-representing (SR) strata. The remaining non-self-representing regions (NSR) were allocated to 35 equal-sized strata. One region was then selected from each NSR stratum using the method "probability proportional to size" (PPS). That is, the probability that a region in a given NSR stratum was selected was directly proportional to its measure of population size.

The NSR strata were designed to have approximately equal sizes to improve the efficiency of estimates. The target population (omitting the deliberate exclusions described above) totaled over 140 million inhabitants. Ideally, one would use the population of eligible households, not the population of individuals. As is often the case, we were obliged to use figures on the population of individuals as a surrogate because of the unavailability of household figures in various regions.

Although the target sample size was set at 4,000, the number of households drawn into the sample was inflated to 4,718 to allow for a nonresponse rate of approximately 15 percent. The number of households drawn from each of the NSR strata was approximately equal (averaging 108), since the strata were of approximately equal size and PPS was employed to draw the PSUs in each one. However, because response rates were expected to be higher in urban areas than in rural areas, the extent of over-sampling varied. This variation accounted for the differences in households drawn across the NSR PSUs. It also accounted for the fact that 940 households were drawn in the three SR strata--more than the 14.6 percent (i.e. 689) that would have been allotted based on strict proportionality.

Since there was no consolidated list of households or dwellings in any of the 38 selected PSUs, an intermediate stage of selection was then introduced, as usual. Professional samplers will recognize that this is actually the first stage of selection in the three SR strata, since those units were selected with certainty. That is, technically, in Moscow, St. Petersburg, and Moscow oblast, the census enumeration districts were the PSUs. However, it was cumbersome to keep making this distinction throughout the description, and researchers followed the normal practice of using the terms "PSU" and "SSU" loosely. Needless to say, in the calculation of design effects, where the distinction is critical, the proper distinction was maintained. The selection of second-stage units (SSUs) differed depending on whether the population was urban (located in cities and "villages of the city type," known as "PGTs") or rural (located in villages). That is, within each selected PSU the population was stratified into urban and rural substrata, and the target sample size was allocated proportionately to the two substrata. For example, if 40 percent of the population in a given region was rural, 40 of the 100 households allotted to the stratum were drawn from villages.

In rural areas of the selected PSUs, a list of all villages was compiled to serve as SSUs. The list was ordered by size and (where salient) by ethnic composition. PPS was employed to select one village for each 10 households allocated to the rural substratum. Again, under the standard principles of PPS, once the required number of villages was selected, an equal number of households in the sample (10) were allocated to each village. Since villages maintain very reliable lists of households, in each selected village the 10 households were selected systematically from the household list. In a few cases, villages were judged to be too small to sustain independent interviews with 10 households; in such cases, three or four tiny villages were treated as a single SSU for sampling purposes.

In urban areas, SSUs were defined by the boundaries of 1989 census enumeration districts, if possible. If the necessary information was not available, 1994 microcensus enumeration districts, voting districts, or residential postal zones were employed--in decreasing order of preference. Since census enumeration districts were originally designed to be roughly equal in population size, one district was selected systematically without using PPS for each 10 households required in the sample. In the few cases where postal zones were used, one zone was likewise selected systematically for each 10 households. However, where voting districts were used, to compensate for the marked variation in population size, PPS was employed to select one voting district for each 10 households required in the urban sub-stratum.

In both urban and rural substrata, interviewers were required to visit each selected dwelling up to three times to secure the interviews. They were not allowed to make substitutions of any sort. The interviewers' first task was to identify households at the designated dwellings. "Household" was defined as a group of people who live together in a given domicile, and who share common income and expenditures. Households were also defined to include unmarried children, 18 years of age or younger, who were temporarily residing outside the domicile at the time of the survey. If perchance the interviewer identified more than one household in the dwelling, he or she was obliged to select one using a procedure outlined in the technical report. The interviewer then administered a household questionnaire to the most knowledgeable and willing member of the household.

The interviewer then conducted interviews with as many adults as possible, acquiring data about their individual activities and health. Data for the children's questionnaires were obtained from adults in the household. By virtue of the fact that an attempt was made to obtain individual questionnaires for all members of households, the sample constitutes a proper probability sample of individuals as well as of households, without any special weighting. Actually, the fact that we did not interview unmarried minors living temporarily outside the domicile slightly diminished the representativeness of the sample of individuals in that age group.

The multivariate distribution of the sample by sex, age, and urban-rural location compared quite well with the corresponding multivariate distribution of the 1989 census. Of course, because of random sampling error and changes in the distribution since the 1989 census, we did not expect perfect correspondence. Nevertheless, there was usually a difference of only one percentage point or less between the two distributions.

Another way to evaluate the adequacy (or efficiency) of the sample was to examine design effects. An important factor in determining the precision of estimates in multi-stage samples was the mean ultimate cluster (PSU) size. All else being equal, the larger the size the less precise the measure is. In Rounds I through IV of the RLMS, the average cluster size approached 360--a large number dictated by constraints imposed by our collaborators. Thus, although the sample size covered around 6,000 households, precision was less than we would have liked for a sample of that size. In Rounds I and III of the RLMS, the 95 percent confidence interval for household income was about ?±13 percent.

In the Phase II (Rounds V - XX) sample, the situation was considerably better. Although there were only 4,000 households, the mean size of clusters was much smaller than in Phase I. There were 35 PSUs with about 100 households each; even this result was an improvement over the average of 360 in the design of the RLMS Rounds I through IV. However, in the three self-representing areas, the respondents were drawn from 61 PSUs. Recall that Moscow city and oblast, as well as St. Petersburg